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The JSE closed slightly lower on Friday as investors continued to consider the impact of Covid-19 (coronavirus) on global economic growth. The All Share closed down by 0.28%.
Wall Street traded in the green on Friday after a report said President Donald Trump would declare a national emergency over the coronavirus pandemic. At 18h30, the Dow Jones was up by 1.76%.
European stocks staged a comeback on Friday as hopes grew for coordinated stimulus efforts to reduce the economic shock from the coronavirus pandemic. The FTSE 100 traded at 1.88% at 18h30.
Chinese shares, the yuan and government bond futures fell on Friday amid a global market meltdown triggered by intensifying fears over the global spread of the coronavirus. The Shanghai Composite Index closed down by 1.14%.
Japanese shares tumbled on Friday as investors rushed out of stocks and real estate funds on fears the worldwide coronavirus pandemic will bring a global recession and also scupper the Tokyo Olympics. The Nikkei lost 6.08%.
The rand steadied on Friday, as investors considered the coronavirus pandemic and oil dispute between Russia and Saudi Arabia. A dollar traded at R16.34 at 18h30.
Gold rose on Friday as bargain hunters took advantage of the previous day’s slide. An ounce of gold traded at $1 530.21 at 19h30.
Oil prices were set for their biggest weekly slide since the 2008 financial crisis despite a 4% bounce on Friday, as the coronavirus outbreak threatened demand and crude producers promised more supply. At 18h30, a barrel of Brent crude traded at $33.36.
Source: Reuters, Business Day, Trading Economics
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